Application for Liquidation of Saxum Insurance
Should the FSB’s application be upheld, and this order is granted and made final, it will effectively mean that that any policyholder with a current claim will become a concurrent creditor of the […]
Momentum’s NHI cost estimate is ‘mathematical hooliganism’, says Health Minister
Aaron Motsoaledi wants to engage with people who are in favour of universal health coverage but have objections to the NHI Act.
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Insurer pays for Flawed Application Form
It is interesting to note that an insurer’s failure to provide for a key exclusionary clause resulted in payment of a claim it initially rejected. The most recent Short Term Ombudsman Briefcase contains […]
Avoiding Unintended Consequences
While we await the publication of the proposed new Fit and Proper requirements, it is time to assess our own approach to change. Die Burger’s editorial comment, on 19 October 2016, raised the issue of […]
Springbok Rugby Indaba
All eyes and ears of rugby lovers were focused on Newlands this week as the cream of South African rugby converged to plot and plan the resurrection of the ailing patient. Perhaps I […]
Moonstone extends its Global footprint
On a recent sojourn, a Moonstone delegation consisting of Hjalmar Bekker, Director of Moonstone and Bobby Londt (pictured above left), Digital Strategist, visited prominent industry counterparts in the UK. This was not the […]
POPI becomes a Reality
The proposed amendments to the Financial Intelligence Centre Act (FICA), which is still awaiting signature by the President, takes on significant meaning in view of the court action instituted by the Minister of […]
POPI and your FSP
Despite a lot of early fanfare, little mention was recently made of this important piece of legislation which is bound to impact on each FSP. This overview is, by its nature, very brief […]
Levy Reminder
By now you should have received invoices for the FSB levy and one for the FAIS Ombud. If you have not, it may be that your contact details at the FSB are incorrect. […]
Application for Liquidation of Saxum Insurance
On 12 October 2016, the Registrar for Short-term Insurance launched an urgent application in the Johannesburg High Court to place SaXum Insurance Limited (SaXum) under final liquidation. The application is scheduled to be […]
How millennials are shaking things up – The 2016 world insurance report*
“Hi @VelocityInsurance. I’ve had it with @TheBestInsuranceCompany. I want to buy a comprehensive insurance package for my car from you. DM me for details.” This tweet is not atypical of what you’re likely […]
Thank you Proteas
Posing with Faf du Plessis at the start of the tournament is as close as Steve Smith got to the trophy. Photo: Gallo Image I was chatting to my colleague Billy Seyffert this […]
Nearly R1 billion in fraudulent claims thwarted
Claims fraud statistics for 2015 released in September by the Association for Savings and Investment South Africa (ASISA) reveal that while the number of cases of fraud and dishonesty uncovered almost halved (from […]
Debarment after suspension
A recent Appeal Board decision contained a number of interesting comments regarding the withdrawal of a licence and debarment of a FSP. Background The appellant’s licence was withdrawn as a result of non-payment […]
Proposed Amendments to Tax Free Savings
The late publication of draft regulations for Tax Free Savings Accounts (TFSAs) on the National Treasury’s website means that there are only 10 days left for comment from the industry, according to Pam […]
Will the Boks surprise us like the Proteas did?
Last night’s victory over the team we most love to beat will be remembered for a long time. We did not really expect any great cricket in the series, but yesterday’s match was […]
Reinsurance Regulatory Review Position Paper
This document, published on 9 September proposes to: Set out the final reforms on how to best achieve the objectives of insurance supervision, i.e. to promote the maintenance of a fair, safe and […]
